Increasing Your Profits Through Re-Investment And Planning
| Category: Net Business Start ups | Date: 2003-01-24 |
Once you've been working online for a while, or at least investigated the idea, you'll realize that while there is profit potential it's not the open pile of treasures for the taking that many hype oriented advertisements would like you to think.
Instead, you'll realize that making profits online WILL require an investment of your time and resources -- just like any other business.
While it's true you can start with a much smaller financial investment than traditional business, you're still going to have to come up with a PLAN for your investment and for the USE of your profits.
INITIAL INVESTMENT
Jumping on the promise of immediate huge profits is ridiculous, plain and simple. Take time to consider exactly what you'll have to accomplish before you'll start to see some profits for yourself.
How many products do you need to sell or how many others do you need to recruit into your downline before your initial sign up cost is covered? How easy is that going to be to accomplish?
Do the commissions from your downline recur ever month or do you continually have to bring new people into the business? Are there consumable products that your customers will continue to buy on a regular basis or are they one time sale items?
You need to consider all of these factors and make a plan for your business. Set some goals. Your initial step should be to give yourself a deadline to make enough sales or get enough recruits to cover your own expenses. If you make your goal, then learn from that experience to set realistic goals for making profits. If you fail to make your goal of covering your own expenses or initial investment, reconsider your involvement in the program or at least your methods of promotion.
USING YOUR FIRST COMMISSIONS
What do you plan on doing with your commissions or profits when you do start making them?
Most sales copy will set you to thinking of quitting your regular job, buying a luxury car, and having time for extended vacations. Quite often it's these dreams that are used for motivation in closing a sale.
Those are noble motivations, but let's get realistic. Sure, you can get there, but not without a plan of action, and not in your first week.
So, what are your goals for your initial business profits? Are you in business to replace your current job? Are you looking for a secondary income to help with some specific bills? Or are you just interested in having some extra spending money on hand?
Either way, consider that a large part of your initial profits may be best utilized if directed back into growing your business. From there, if you are looking to cover specific bills, determine how much that will take while still leaving enough in your business for continual promotion.
RE-INVESTING FOR HIGHER PROFITS
If you have larger expectations from your business, however, such as replacing your current employment income, you'll need to consider investing on a grander scale. In other words, if you always spend your commission check as soon as you get it, waiting for the day it's big enough you can 'fire your boss', you'll only be putting that day off further into the future.
RE-INVESTING your money, or at least a reasonable portion of it, either back into growing your business and/or in other financial investment opportunities can increase your profits AND help you to reach your income goals FASTER.
Take a few moments and think over what you REALLY want to accomplish with your online business or your 'spare time' if that is what you are also investing.
Where do you want it to take you and in what time frame? Do you want immediate spending money, or are you willing to re-invest your initial profits towards a larger payday further down the road?
Just like your downline recruiting others for you grows your business faster than you could on your own, RE-INVESTING a portion of your commission checks or profits can further advance you toward meeting your ultimate goals -- and at a faster pace.
Think about it. It may not be part of the traditional Internet marketing hype, but it does make good business sense.
About the Author
Written by Joe Bingham, Editor of the NetPlay Newsletter
BREAKOUT of the typical ezine rut! The NetPlay Newsletter brings you Online Business Information, News, and Opportunities -- with one Unique sense of Internet Humor. Education and FUN! Free ad to New Subscribers Visit http://www.netplaynewsletters.com/netplay.html
thunderberry@msn.com
http://www.netplaynewsletters.com
Instead, you'll realize that making profits online WILL require an investment of your time and resources -- just like any other business.
While it's true you can start with a much smaller financial investment than traditional business, you're still going to have to come up with a PLAN for your investment and for the USE of your profits.
INITIAL INVESTMENT
Jumping on the promise of immediate huge profits is ridiculous, plain and simple. Take time to consider exactly what you'll have to accomplish before you'll start to see some profits for yourself.
How many products do you need to sell or how many others do you need to recruit into your downline before your initial sign up cost is covered? How easy is that going to be to accomplish?
Do the commissions from your downline recur ever month or do you continually have to bring new people into the business? Are there consumable products that your customers will continue to buy on a regular basis or are they one time sale items?
You need to consider all of these factors and make a plan for your business. Set some goals. Your initial step should be to give yourself a deadline to make enough sales or get enough recruits to cover your own expenses. If you make your goal, then learn from that experience to set realistic goals for making profits. If you fail to make your goal of covering your own expenses or initial investment, reconsider your involvement in the program or at least your methods of promotion.
USING YOUR FIRST COMMISSIONS
What do you plan on doing with your commissions or profits when you do start making them?
Most sales copy will set you to thinking of quitting your regular job, buying a luxury car, and having time for extended vacations. Quite often it's these dreams that are used for motivation in closing a sale.
Those are noble motivations, but let's get realistic. Sure, you can get there, but not without a plan of action, and not in your first week.
So, what are your goals for your initial business profits? Are you in business to replace your current job? Are you looking for a secondary income to help with some specific bills? Or are you just interested in having some extra spending money on hand?
Either way, consider that a large part of your initial profits may be best utilized if directed back into growing your business. From there, if you are looking to cover specific bills, determine how much that will take while still leaving enough in your business for continual promotion.
RE-INVESTING FOR HIGHER PROFITS
If you have larger expectations from your business, however, such as replacing your current employment income, you'll need to consider investing on a grander scale. In other words, if you always spend your commission check as soon as you get it, waiting for the day it's big enough you can 'fire your boss', you'll only be putting that day off further into the future.
RE-INVESTING your money, or at least a reasonable portion of it, either back into growing your business and/or in other financial investment opportunities can increase your profits AND help you to reach your income goals FASTER.
Take a few moments and think over what you REALLY want to accomplish with your online business or your 'spare time' if that is what you are also investing.
Where do you want it to take you and in what time frame? Do you want immediate spending money, or are you willing to re-invest your initial profits towards a larger payday further down the road?
Just like your downline recruiting others for you grows your business faster than you could on your own, RE-INVESTING a portion of your commission checks or profits can further advance you toward meeting your ultimate goals -- and at a faster pace.
Think about it. It may not be part of the traditional Internet marketing hype, but it does make good business sense.
About the Author
Written by Joe Bingham, Editor of the NetPlay Newsletter
BREAKOUT of the typical ezine rut! The NetPlay Newsletter brings you Online Business Information, News, and Opportunities -- with one Unique sense of Internet Humor. Education and FUN! Free ad to New Subscribers Visit http://www.netplaynewsletters.com/netplay.html
thunderberry@msn.com
http://www.netplaynewsletters.com
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